Hamat Holding Announces New Expansions in 2022

The maturity of the Saudi real estate market and the dynamics of the economic scene in the country led to a state of correction that resulted in the emergence of specialized commercial property management companies, most notably for the major commercial centers. Upon a strategic alliance between the specialized Saudi companies in the field, the year 2012 witnessed the birth of Hamat Holding Company as one of the key players in the field of Commercial Centers’ development, management, and operation in the Kingdom. Hamat Holding relies on a long professional legacy that is the product of an alliance of giant economic entities that have an influential record in the area’s economy movement, which enabled it to generate mature and integrated visions and goals to be one of the largest companies specialized in managing and operating commercial centers. Both malls’ tenants and owners feel the importance of specialized management by a company with potential and an ambitious desire to move forward in the paths of success. Through even a quick reading of the brand names that have showrooms and stores in Hamat Malls, it becomes clear the extent of the specialized management impact in serving large and upscale brands that preferred to partner with an entity that operates through an approach. From Abha and Jazan in the far south of Saudi Arabia to Tabuk in the north, to Jeddah, Madinah, and the eastern region, to Riyadh, the malls and plazas managed and operated by Hamat Holding are spread and distributed through a well-thought-out vision that takes into account the demographic aspects of the population in the vast Saudi cities. This expansion meets the need of retail stores and major brands in order to be present in most of the Kingdom cities of in order to achieve its plans for expansion. Through the specialized work team, and technical and professional methods, Hamat Holding was able to own all these records of continuous expansion.

volume of SR2.7 billion ($719 million). The agreement, which was signed by Yasser Abu Atiq, CEO of Umm Al-Qura for Development and Construction and Eng. Saleh Al-Habib, Hamat Holding’s Chairman, provides for the development of the mall’s facilities and amenities, creating many direct and indirect job opportunities. The mall will be developed over a 71,000 squaremeter area and will provide more than 130,000 square meters of shopping space. The development is located at the western entrance of the Masar destination, a cultural project in the western part of Makkah, opposite the Haramain train station. It is also easily accessible through the Third Ring Road and King Abdul Aziz north and south roads. The mall will feature “many specifications and advanced equipment, which reflect an exceptional value for investment and establish unique horizons in the Kingdom’s shopping and entertainment industry” the partnership statement said.

The Park Taif City, KSA

Moreover, the company has two new upcoming projects in 2022 The Park in Taif City and The Village in Jeddah. The Park Mall comes as a result of Hamat strategy to create social and entertainment environments which was directly reflected in the concept of this project which extends over an area of 29 thousand square meters. Taif City is distinguished by its charming location, which makes it summer destination for tourist and has a population of 1,750,000 million people, and the number of its visitors exceeds 3 million annually. The city is also a link between the vital and important places in the western region and considered the eastern gate of the Holy Mosques through Mecca. The Park is connected by a bridge with the only university in Taif where the number of its students and employees is 46,958 thousand and it is only 10 minutes away from Taif regional airport. Meanwhile, the Village Mall in Jeddah is located on the fastest growing neighborhoods in the city. As a result of this organic growth, the mall will gain an exclusive market in its core catchment area, with a high Retail Potential/Capita. In fact, Jeddah as a city offers a sizeable inflow of domestic and international tourists. The mall and the attached hotel will be a natural destination especially for those coming for leisure or stopping over after religious trips. The Village also benefits from being surrounded by existing and new master plans. The proposed center can distinguish itself by being positioned as a “meeting point” or a “day outing destination” with a significant proportion of F&B, outdoor play and seating areas. Hamat Holding, nevertheless, has recently signed the partnership agreement for the Masar Mall which involves Umm Al-Qura for Development and Construction Company and Hamat Holding. The Project is set to be completed in 2026 with an investment

The Village Jeddah, KSA

Eng. Saleh Al-Habib and Mr. Yasser Abu Atiq during the signing agreement to develop the largest mall in Makkah by 2026

Masar Mall Project to be completed in 2026